This topic is sure to elicit many opinions, both “fer & agin” regarding notifying your lender client about marijuana plant growing prior to completing an appraisal of a property upon which you observe this activity…especially if you see more than the MAXIMUM allowed in your state (see the chart in the article below).
I've had this discussion with Washington State appraisers after our initiative was successfully passed.
This article was originally run in the Wall Street Journal. Make sure to read the story and watch the special interview with the author AnnaMaria Andriotis HERE.
There is an old adage that says knowledge is power. Never have I found another industry this holds more true. The more we, as appraisers, understand about a specific area, neighborhood, or subdivision the more accurate and credible report is able to be produced. Let’s face it, that’s why we are here… To provide accurate estimates of value. I want to encourage all of us to reach out to our fellow colleagues to discuss current industry changes, with questions, with that tough one you worked on last week.
We sat down with Ed Pinto of the American Enterprise Institute to talk about this upcoming webinar, The Devolution of Appraisal Theory and Process. This will be a three part series. We wanted to discuss it with him and find out why appraisers should attend. Find out what he had to say in this in depth interview.
Buzz: Thank you for taking the time to speak with us about your live webinar on the Devolution of Appraisal Theory and Process. Can you tell our readers a little bit about your history in the industry?
I remember writing essays on historical figures for school when I was younger. I would spend hours in the library going through the card catalog using the Dewey decimal system to find the material I needed to complete my assignment. Once I had gathered all of my information, I could complete my report based on my opinion of the information I had gathered. If the teacher wanted to validate any of my findings, they would need to go through the same painstaking process I had gone through, although, they would at least have the page numbers.
In today's technologically forward era, every day there is less and less human interaction. Something as simple as going to the grocery store, you used to give the cashier money or a credit card. You might have even made small talk while you waited for your change or your credit card to go through and to sign off on the receipt once they handed it to you. You are lucky anymore to see someone say hello or acknowledge the cashier’s existence for a split second, then slide their card through the machine and look down at the machine to follow the prompts.
I personally want to thank you for taking the time to respond to the survey. I know that every year, especially over the past few years, the appraisal profession has gone through such enormous changes that "this too shall pass". But they never do.
The results of the April Foolery Contest are in! We are impressed with the creativity of all the submissions. We are pleased to award free Valuation Expo passes to the authors of the best poem, comic, and video about Valuation Expo or the Appraisal Industry as a whole. We were overwhelmed with the responses from appraisers across the country. We were finally able to narrow it down to one winner in each category. We also wanted to recognize some of the finalists who submitted some great entries.
Every year the Collateral Risk Network joins together to nominate and vote on the most influential mind in the appraisal industry for the year. The winner is presented with the prestigious Valuation Visionary Award. We are pleased to announce the winner of this year's award is Jeff Bradford, founder of Bradford Technologies.
At The Appraisal Foundation, we often encounter misperceptions about the role of appraisals in the home buying process. From first time homebuyers to seasoned real estate professionals, there is often confusion about the purpose of an appraisal, how it is ordered and carried out, and what type of communication is allowed with appraisers. Dispelling these misunderstandings is critical to educating borrowers, lenders, real estate brokers, and homebuilders on the central role of appraisals in the mortgage process.
